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Good morning. Here’s your daily equity research round up from the Street.Citi:
Nike (N): Citi is bullish on Nike, with earnings estimates above consensus for this year and next. This assessment is based primarily on strength in the U.S. and a boost from Europe during the London Olympic games. Euro and Asian weakness are a possible drag, but Citi maintains its buy rating and increased its expected total return 15.6 per cent.
Tiffany & Co. (TIF): The biggest issue for the company is a slowdown in Asia (ex. Japan). Margins are under pressure, and slower growth is expected. Analyst Brian Tunick reduces EPS estimates as well as its price target to $62 from $74.
Carlyle Group (CG): Morgan Stanley initiates coverage of the private equity group on a fairly bullish note, with an equal weight rating and a price target of $28. MS analysts cite fund raising prowess, a global footprint, and a diversified product as the basis for their positive outlook.
Texas Instruments (TXN): Texas Instruments tightened its outlook for the second quarter, and despite claims of stability in the end market, UBS remains concerned about demand. Data from the US, China, and Eurozone point to a weaker environment. Price target is lowered from $35 to $30.
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